ONLINE shopping helped propel revenues at postal service UK Mail last year, as the firm upped its business forecasts yesterday.
A boom in online shopping on sites like Amazon and Asos helped the business, which is a rival to Royal Mail, increase parcel volumes by 20 per cent in the three months ending March, against figures a year ago. This surge sent revenues up, as the firm forecast an 11 per cent increase in reported full year revenues for 2012.
It also helped cushion a revenue fall in both its courier business and pallets business, which had a “difficult year”, the company said. Revenues are expected to be up six per cent for the quarter.
“The performance of our business in the final quarter of the year was again strong, partly helped by the early Easter,” chief executive Guy Buswell said.
“I am particularly pleased with the performance of our parcels business where volume growth continues to be high.”
Stripping out an increase in Royal Mail prices and two less working days last year, underlying full year revenues are expected to be six per cent higher this year.
“In March we experienced the highest ever daily volumes across our combined parcels and mail businesses”, Buswell said.